As all of those are considered revolving accounts, paying them off will stop them from reporting the balances which being charged off, they're being scored at 100% utilization until they're paid down to zero. Just pay it all off as soon as you can, there's no strategy to play here that will benefit you.
@MontegoMack wrote:I have a HELOC with NFCU and two credit cards with Chase that are charge offs. I have the cash to pay them off. Chase because they manage all of my money and NFCU because they have my mortgage.
Obviously, this negativity is super bad for my credit scores. What's the best way to increase my score as I pay them off in full?
the best way to increase your score is to ensure you have no bad debt reporting monthly anymore, once that's true, you'll be able to start building your score back up
0/6, 3/12, 10/24